These stocks, Prospect Capital Corporation, American Vanguard Corp, Newell Rubbermaid Inc, and Celadon Group Inc, have been showing ascending triangle patterns on July 8. This pattern is a bullish formation that usually forms at the time of a upswing as a continuation pattern. Key characteristics that investors can look out for are trend patterns, duration and volume. In order for the pattern to be a continuation, an established pattern should exist. Since the pattern is bullish, the length and duration do not matter. What is important is the robustness of the formation. As mentioned, duration is not that important, but the average pattern lasts 1 to 2 month. As the pattern develops volume contracts and once the stock hits a break point, volume usually expands. The expansion confirms the breakout. This stock has been on a upswing, thus allowing investors to identify a resistance point. Investors may wan to consider going bearish on a breakpoint above the resistance point.
Shares of Prospect Capital Corporation (PSEC) traded higher by 0.09% or $0.01/share to $11.74. In the past year, the shares have traded as low as $6.63 and as high as $11.87. On average, 1368680 shares of PSEC exchange hands on a given day and today's volume is recorded at 1370397.
Shares of American Vanguard Corp (AVD) fell by 1.76% or $-0.49/share to $27.41. In the past year, the shares have traded as low as $9.56 and as high as $28.48. On average, 324920 shares of AVD exchange hands on a given day and today's volume is recorded at 211525.
Shares of Newell Rubbermaid Inc (NWL) fell by 1.88% or $-0.35/share to $18.29. In the past year, the shares have traded as low as $10.70 and as high as $19.31. On average, 3029410 shares of NWL exchange hands on a given day and today's volume is recorded at 1573583.
Shares of Celadon Group Inc (CGI) fell by 3.54% or $-0.59/share to $16.09. In the past year, the shares have traded as low as $8.14 and as high as $17.17. On average, 170690 shares of CGI exchange hands on a given day and today's volume is recorded at 117383.
